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Stock Market & Financial Investment News

News Breaks
February 11, 2013
08:03 EDTDUF, CGDuff & Phelps announces expiration of 'go-shop' period
Duff & Phelps (DUF) announced that, following the expiration of the “go-shop” period provided for in its previously announced merger agreement with a Consortium comprising controlled affiliates of or funds managed by The Carlyle Group (CG), Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group, the company did not receive any alternative acquisition proposals from third parties. The company remains committed to the Consortium’s proposal to acquire the company for $15.55 per share in cash in a transaction valued at approximately $665.5M. During the “go-shop” period, Centerview Partners, the company’s financial advisor, with the direction of the Transaction Committee of the Board of Directors, comprised of independent Directors, undertook a broad solicitation effort, contacting 27 potential acquirers believed to have potential strategic or financial interest in an alternative transaction to the transaction with the Consortium. These proactive contacts resulted in 5 parties negotiating and entering into confidentiality agreements with the company, although no alternative acquisition proposals from third parties were received. The transaction is expected to close in 1H13.
News For DUF;CG From The Last 14 Days
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September 26, 2014
11:35 EDTCGCarlyle Group to acquire majority interest in six power plants in Georgia
Carlyle Group announced it has agreed to acquire 75.05% of the outstanding interests and operational control of Southeast PowerGen, a portfolio of six natural gas-fired power plants in Georgia, from ArcLight Capital Partners and GIC, Singapore's sovereign wealth fund. Equity capital for the transaction, terms of which were not disclosed, will come from Carlyle Power Opportunities Capital Partners L.P. and Carlyle Power Partners II L.P. The acquisition increases the size of Carlyle’s power generation portfolio to more than 4,300 MW. Southeast PowerGen, presently owned by a consortium of ArcLight Capital Partners, GIC and GE Energy Financial Services, consists of two natural gas-fired combined-cycle power generation facilities and four natural gas-fired peaking facilities totaling 2,815 MWs.
September 25, 2014
18:05 EDTCGCarlyle Group to pay $115M in collusion suit settlement, Reuters says
Carlyle Group is settling a lawsuit that alleged it colluded with other buyout shops to depress deal prices for $115M, says Reuters. The settlement will be paid through a combination of Carlyle Partners IV fund capital, insurance, balance sheet capital, and contributions from some employees of the firm, added Reuters, citing sources. Reference Link
September 23, 2014
13:39 EDTCGGIC in talks with Carlyle over possible GBP 2B takeover of RAC, Sky News says
The Government Investment Corporation of Signapore, or GIC, is in talks with the Carlyle Group over a potential takeover of its RAC division, a roadside assistance company, SkyNews reports, citing a person close to the situation. The deal would be valued at more than GBP 2B, and the deal could occur within days, Sky News added. CVC Capital Patners has also expressed interest in buying the RAC unit from Carlyle. A takeover of RAC would end its prospects of becoming a publicly traded company. The board of RAC will meet in the coming days to decide whether the division should go through with an IPO or pursue a sale of the business, Sky News added, citing an insider. GIC would consider taking a minority stake in RAC before its IPO if it decides to go public, the insider added. Reference Link
September 22, 2014
08:54 EDTCGCarlyle aims to divest shares in oil-unloading system, WSJ says
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